Zulum flags off disbursement of N850m to 4,250 SMEs

Governor Babagana Umara Zulum of Borno state Wednesday in Maiduguri flagged off the third phase of Borno state government credit and grant disbursement to 4250 SMEs totaling N850 million.

The governor also commissioned Alpha Mechanic village for 416 mechanics comprising of technicians of automobile tricycle and generator with the following sub sectors or units of auto mechanics, diesel engine mechanics, electricians, body works, welders wheel balance) alignments, upholstery, gear box mechanics, tricycle mechanics and generator repairs totaling 416 people alongside disbursement of soft loans and grants.

He said the decision to construct the site and disburse loans and grants to them and other unions and associations was to empower them and address unemployment as well as drive the socio economic growth and development of the state through job creation.

While disbursing of the loans and grants to over 4,250 beneficiaries across various trade and craft unions as well as tricycle and other SMEs worth about N 850 million, Zulum said it was aimed at establishing and maintaining a mechanism for empowering youth in skills acquisition, entrepreneurial development and vocational technical trainings.

The Borno state Commissioner of Higher Education, Science, Technology and Innovation, Mustapha Malumbe, commended the governor for his efforts and support to the youth while noting that the project was part of the 25 year development plan on human capital development designed to actualise increased employment opportunities and decent work particularly for the youth by stimulating a vibrant economic sector in the state.

He added that the 10 strategic transformation initiatives for human capital development has employability, entrepreneur shops, lifelong learning and incentive with key activities of establishments of a technocracy center in each LGA.